Real estate owners and developers Alfa Development and Park-It Management have snagged a development site in at 117-119 West 21st Street in Chelsea for $12 million, where they plan to construct a high-end residential development, The Commercial Observer has learned.
The site is currently occupied by a four-story vacant warehouse with 44 feet of frontage and Read More
Chick-fil-A, the controversial fast food franchise, may be expanding in the Big Apple some time soon if retail brokers get their way.
From high-end luxury brands to regional food concepts, and, yes, Chick-fil-A, real estate professionals yesterday offered The Commercial Observer hints of deals they hope to seal before next year’s journey to Sin City. Read More
Kushner Companies seeks highly motivated seasoned Property Manager to assist with our East Village portfolio
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The James Hotel in SoHo has been sold, just three years after its grand opening, city records confirm.
Published reports earlier this month quoted the sale at $85 million, but the city officially recorded the sale price at $83.4 million.
Global real estate investment and development company Brack Capital Real Estate announced earlier this month Read More
One week ago Victoria’s Secret Model Kylie Bisutti opened up about her decision to quit modeling in order to make amends with The Man Upstairs – now her former employer is moving upstairs.
The lingerie retailer has signed a 3.5-year lease for an additional 60,000 square feet across floors four and five at its 2 Herald Square retail flagship location, David Sitt, a principal with landlord Sitt Asset Management, told The Real Deal. Read More
Have you ever splurged when you’re pissed off, or when someone’s pissed off at you? That’s kind of what Bloomberg LP just did.
The global media company has leased 68,000 additional square feet of pristine space at Global Holdings‘ 120 Park Avenue on the heels of a client data breach that has reportedly infuriated its high-profile owner: Mayor Michael Bloomberg. Read More
The stylish spinning studio SoulCycle broke into New York real estate through an inauspicious channel: Craigslist.
In 2006, co-founder Elizabeth Cutler was scouring available spaces on the go-to online destination for scalped tickets, used furniture and anonymous hookups. “We couldn’t get a broker to call us back,” Ms. Cutler said. “I told [co-founder]Julie [Rice], one day, people will actually call us.” Read More
Yahoo Signs Long-Term Lease at Former NYTimes Building [Commercial Observer]
Orange Business Services Moves to Midtown [Commercial Observer]
RWN Pays $3.8 M. for Bowery Retail Condo, Appoints RKF to Market [Commercial Observer]
Yahoo Getting Space at Old Home of The Times [NY Times]
Financial Firms Said to Seek Alternative to Bloomberg Read More
In 2010, harried Manhattan office workers were hungry for new lunch options.
Food trucks were somewhat novel and all the rage. Puckish restaurateurs like David Chang (Momofuku) had dispensed with tablecloths and seatbacks and made barebones eateries the hottest tickets in town. Flea markets, with their quirky food vendors, had stormed Brooklyn and downtown Manhattan. Read More
If one hot-button retail issue has dominated the New York real estate landscape in recent years, it’s been Walmart. The giant discount retailer has been trying to find a suitable location in the city for nearly a decade, but resistance has been fierce. The reasons for this resistance range from the big-box store’s labor practices to the perceived threat to local retailers.
The conflict came to a climax last year when Christine Quinn, democratic candidate for mayor, snarled, “As long as Walmart’s behavior remains the same, they’re not welcome in New York City.” Last week, The Commercial Observer spoke with some of New York’s leading retail brokers about the role of politics in retail real estate, what Walmart can do to ingratiate itself and which locations, if any, are suited to its footprint.
In 2009 and 2010 “you could have rolled a bowling ball down the aisle” at the International Council of Shopping Centers’ RECon conference “and it wouldn’t have hit anybody,” Massey Knakal executive vice president of retail leasing Benjamin Fox told The Commercial Observer.
But when an estimated 33,000 real estate professionals converged upon one million Read More
Minute By Minute: The First Day and a Half at the International Council of Shopping Centers RECon Expo
On Sunday night at the MGM Grand Garden Arena in Las Vegas, Taylor Swift and Justin Bieber made the fans squeal and the paparazzi snap. But just off the strip, at the Las Vegas Convention Center, the real action got underway with the start of RECon. Below, The Commercial Observer’s
reconnaissance work at The Global Real Estate Convention, where 35,000 registered attendees are helping to shape the future of retail real estate. Read More
Dairy Queen firmly intends to break into the Manhattan market, and will come one step closer when it opens its first Long Island store early next month, DQ spokeswoman Samantha Krogfus told The Commercial Observer at RECon in Las Vegas.
While DQ did not dispense free ice cream at the Las Vegas Convention Center, and thereby avoided the spectacle of businessmen in suits lining up at the nearby Carvel station for a cup of vanilla with rainbow sprinkles on top, the company did draw curious attendees to its booth in the South Hall. Read More
Staten Island’s proposed Empire Outlets development project – and an accompanying 600-foot, $300 million ferris wheel – entered into the city’s six-month Universal Land Use Review Procedure yesterday.
If the zoning changes and special permits required for the construction of the development (and the giant wheel) are granted upon completion of the review, Brooklyn-based developer Read More